Wealthfront Advisers LLC Sells 281 Shares of IDEX Corporation $IEX

Wealthfront Advisers LLC cut its position in shares of IDEX Corporation (NYSE:IEX) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,352 shares of the industrial products company’s stock after selling 281 shares during the quarter. Wealthfront Advisers LLC’s holdings in IDEX were worth $589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Horizon Investments LLC grew its position in IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 54 shares during the last quarter. Empowered Funds LLC lifted its position in shares of IDEX by 3.4% in the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 54 shares during the period. Alps Advisors Inc. boosted its position in shares of IDEX by 1.0% during the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 60 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of IDEX by 2.0% during the second quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 60 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in IDEX by 21.5% in the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 79 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IEX. Stifel Nicolaus decreased their target price on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a report on Monday, October 20th. Royal Bank Of Canada reduced their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday. DA Davidson set a $180.00 price target on IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Citigroup increased their target price on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

IDEX Stock Up 0.7%

Shares of IDEX stock opened at $171.56 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.13. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The firm’s 50-day moving average is $164.42 and its two-hundred day moving average is $172.20. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.83 and a beta of 1.04.

IDEX (NYSE:IEX) last released its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The firm had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. As a group, research analysts expect that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. IDEX’s dividend payout ratio is currently 44.94%.

IDEX Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.